6,091 Shares in Caterpillar Inc. (NYSE:CAT) Bought by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,091 shares of the industrial products company’s stock, valued at approximately $2,029,000.

A number of other large investors also recently modified their holdings of the company. Richardson Financial Services Inc. purchased a new position in Caterpillar in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. purchased a new position in shares of Caterpillar in the 1st quarter valued at $27,000. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar during the 2nd quarter valued at $28,000. Financial Connections Group Inc. purchased a new stake in Caterpillar during the 2nd quarter worth $28,000. Finally, Fairman Group LLC acquired a new stake in Caterpillar in the 1st quarter valued at $29,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. Insiders sold a total of 7,668 shares of company stock worth $2,665,760 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAT. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Barclays increased their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. UBS Group boosted their target price on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Raymond James started coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Truist Financial reiterated a “buy” rating and issued a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average price target of $336.31.

Caterpillar Price Performance

Shares of NYSE CAT opened at $345.31 on Friday. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $167.44 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The business has a 50 day simple moving average of $340.70 and a 200-day simple moving average of $343.83.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same quarter in the previous year, the firm earned $5.55 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.